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Apple (AAPL) Shares Tank Again

After a late-November surge, Apple shares have fallen flat the
last two days. They're down close to 6% since Tuesday morning,
falling an even 4% as of 12:30 p.m. ET today.

At $552 per share, Apple is as cheap as it's been since before
its
November rally
took the stock from $525 a share on November 15 to $589 on
November 26.

Apple shares have now fallen 22% since hitting an all-time
high of $705 in September.

According to analysts, possible catalysts behind the tech
stock's latest retreat are increased competition in the tablet
market and a murky future for tax rates on capital gains thanks
to the impending fiscal cliff.

As usual, Apple's big move is having a profound effect on its
native Nasdaq. The tech-heavy index is down 0.3% on a day when
the other two U.S. indices have risen substantially. The S&P
500 has climbed half a percent today, while the Dow Jones
Industrial Average is up a full percentage point.

Because Apple is the largest publicly traded company in the
world, when it rises and falls it tends to drag the entire market
with it.

Despite its latest slump, the stock is still having a very
good year. Apple shares have surged 36% in 2012 - an ever better
percentage gain than its stellar 2011 performance.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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